The Boston Red Sox are third at $3.3 billion, Forbes said Thursday, followed by the Chicago Cubs ($3.2 billion), San Francisco ($3.1 billion), the New York Mets ($2.4 billion), St. Louis ($2.2 billion) and Philadelphia ($2 billion).

Miami was last at $980 million, a drop of $20 million. Also near the bottom were Kansas City ($1.025 billion), Tampa Bay ($1.05 billion), Cincinnati ($1.075 billion) and Oakland ($1.1 billion).

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Forbes estimates the MLB average team value rose 4% from last year to $1.85 billion, the smallest annual appreciation since a 2% rise in 2010.